When evaluating comparables on land sales, what does it mean to "bracket" the subject?

Bracketing in the context of evaluating comparables on land sales refers to the process of selecting comparables that encompass a range of characteristics relative to the subject property, particularly size and value. By having comparables that are both larger and smaller than the subject, appraisers can effectively establish a value range. This method allows them to identify a more accurate market perspective and comparison, enhancing the reliability of the appraisal outcome.

Using a range of comparables that bracket the subject in terms of size helps to account for variations in market perceptions, adjustments based on unique features, and potential differences in demand. This approach gives the appraiser a comprehensive understanding of how the subject property stands within its market context.

The other options focus on different aspects of property evaluation, such as location and timing, which do not specifically pertain to the concept of bracketing in terms of comparative size and value. Therefore, understanding the significance of bracketing is crucial for effective land valuation and appraisal accuracy.